HERP Reconciliation

Question 1

When is the HERP reconciliation done and what does it compare?

Answer 1

• Done once a month

- The recon compares the earnings posted in AFRS to the earnings data retrieved from our system.

Question 2

What are the two parts to HERP reconciliation?

Answer 2

1) Monthly earnings data needs to be input into the HERP ER Earnings spreadsheet.
2) The AFRS data needs to be input into the HERP reconciliation spreadsheet

Question 3

Earnings Data Entry

Describe the process for the Monthly State Investment Board (SIB) Journal Voucher (JV)

Answer 3

1) the Revenue Transfer JV is typically received on the first business day of the month in the Trust Accounting inbox.
- This email is filed in the 6-year retention
2) Open the attachment to the email and save it in the HERP folder.
- Save the JV (.pdf format) in the Monthly SIB operating budget JV folder located at Fiscal \ shared \ HERP Reports \ HERP 20yy
- name the JV - mm 20yy WSIB Operating Revenue Transfer
- print the monthly SIB operating budget JV